Mozambique Is the First Country to Receive Emission Reductions Payments from World Bank - Africa’s premier report on the oil, gas and energy landscape.

Mozambique Is the First Country to Receive Emission Reductions Payments from World Bank

Mozambique has received payments from a World Bank trust fund for reducing emissions from deforestation and forest degradation.

It is the first country to do so.

The Forest Carbon Partnership Facility (FCPF) paid $6.4Million to the Southeasternmost African country for reducing 1.28Million tons of carbon emissions since 2019. The payment is the first of four under the country’s Emission Reductions Payment Agreement (ERPA) with the FCPF that could earn Maputo about $50Million by 2024; for reducing up to 10Million tons of C02 emissions in the Zambézia Province by the end of 2024.

“This is a major step forward to the country’s ongoing efforts to save forests and halt deforestation”, declares Ivete Joaquim Maibaze, Mozambique’s Minister of Land and Environment. “The deal will allow Mozambique to secure long-term finance to provide alternatives to deforestation and reward efforts to mitigate climate change, reduce poverty, and manage natural resources sustainably to meet the Nationally Determined Contributions (NDCs) targets”

The World Bank says that the payment acknowledges Mozambique’s contribution to the implementation of emission reduction activities, such as adopting sustainable agriculture practices, monitoring use of forest resources or restoring degraded land.

“Efforts to prevent deforestation and promote reforestation are costly and payment agreements such as these can be a game changer as they provide much needed finances to improve sustainable forest management and resilience.”, says  Idah Pswarayi-Riddihough, World Bank Country Director for Mozambique,

To approve the payment after Mozambique had submitted an official monitoring report confirming the emission reductions, the FCPF oversaw an independent third-party verification, which ran from September 2020 to May 2021.

The programme currently overs nine districts of the Zambézia Province: Alto Molocue, Gile, Gurue, Ile, Maganja da Costa, Mocuba, Mocubela, Mulevala and Pebane. Local communities will receive a previously agreed-upon portion of the payments in relation to their contribution to reducing deforestation. A benefit sharing plan prepared with local actors and communities that have contributed to the results will ensure that they receive the majority of the benefits.

 

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